"66% of CEOs and the C-Suite are dissatisfied (or ambivalent) with their organization’s progress on AI..."
Whether to employ AI as a business tool is no longer in question. A recent BCGX Radar Report cited that:
Today, the C-Suite conversation needs to be how businesses can shift to be AI First - use AI in a way that will meaningfully impact their goals.
However, for many business leaders, their AI plans need a consistent, over-arching strategy and a roadmap to achieve their business goals with the help of AI-assisted tools. It’s time for CEOs to have a frank conversation with their leadership teams about how to adopt and deploy AI. It’s not enough to be driven by a fear of missing out (FOMO) or a fear of being obsolete (FOBO). Business leaders must have a well-considered, proactive AI plan that isn’t reactive, for it can be proactive.
There are two key challenges facing CEOs when implementing AI strategically and intentionally:
Lack of a Cohesive Strategy
Many CEOs need help developing a unified and comprehensive plan for integrating AI into their business operations. While individual departments or teams may experiment with AI tools and applications, a cohesive overarching strategy must align these efforts with broader organizational goals and cross-functional alignment.
Lack of Implementation Support
CEOs may also need help finding the necessary support and resources to implement AI initiatives effectively. This could include issues such as a shortage of skilled personnel, insufficient technological infrastructure, or resistance from employees who are unfamiliar or uncomfortable with AI technology.
CEOs must address these obstacles to ensure the successful adoption and integration of AI technologies. It’s not about finding the best tool or one solution that will solve all their AI-related challenges. Without a cohesive AI Strategy, pursuing the latest AI app or tool will most likely backfire without a proper foundation.
AI can be used in many workflows across all business functions. How can leaders know where to start? It begins by identifying the phases of AI maturity. Here are the highlights for the five stages in the AI Maturity Life Cycle.
Discover
The discover stage is the very beginning of the process. This means that AI is being used in pockets within the organization. Still, more needs to be formalized regarding activities or projects with a cohesive effort to develop AI literacy within the organization.
Emerge
In this stage, businesses seek to develop AI literacy. Pilots of approved activity may have started, but these activities still need to be aligned with the business strategy. This means that only around 10 percent of the organization is AI literate.
Formalize
AI is now supported by leadership with goals, objectives, and priorities at this stage of maturity. There is alignment between business strategies, KPIs, and AI tools, which are now being used across the organization. By now, 30 percent of the organization is AI literate.
Advance
In the Advance stage, operational workflows are optimized with AI and these AI tools are impacting business results. Tasks and workflows are personalized throughout the organization, and it is now approximately 50 percent AI literate.
Transform
In this stage, an “AI first” business strategy is the new “business as usual.” The AI ecosystem is transforming the company’s business model and helps create new products and services. Organizations in this stage exceed 70 percent AI literacy.
CEOs often tell us that they already have a leadership team focused on their day jobs but need someone who could get their arms around AI if there were a strategy for implementing it. How can business leaders get a jumpstart on setting AI strategy without upending their organizations or losing sight of business goals?
To answer this question, we created an AI Maturity Assessment that helps businesses bridge the gap between understanding and unlocking AI's power. This short checklist (~ 5 mins.) will give business leaders valuable insights they can leverage for outsized business impact, no matter where their companies are in the AI maturity continuum. After the assessment, CEOs should understand how to plan and implement a cohesive strategy for AI adoption.
The main objectives of the AI Maturity Assessment are to identify a company's unique AI stage and pinpoint where it stands in the AI lifecycle. The assessment helps uncover personalized insights and actionable steps for each stage of maturity and provides a roadmap to level up AI adoption strategies.
Ask yourselves (and your leadership teams) these questions about AI readiness:
If you answered “yes” to any of them, then an AI maturity assessment would be a positive first step toward transforming your business with AI.
Our AI maturity assessment tool provides business leaders with actionable, personalized insights into your company’s strengths, weaknesses, and untapped sales, marketing, technology, and leadership opportunities. It also provides a tailored roadmap outlining practical steps to elevate your AI strategy and drive the business results that matter most.
Make sure your business is future-ready with an AI strategy that reflects your company’s AI maturity stage. Deploy a cohesive AI strategy and prioritize investments effectively. Everything you need to be an AI-powered leader may be already within your walls. Stay ahead of the curve in this rapidly evolving landscape and let us help you navigate the world of AI.
Take our free AI Maturity Assessment here or contact Ed Valdez to learn how Chief Outsiders can help your business tackle the next generation of AI tools.